tv Markets Now FOX Business January 15, 2013 11:00am-1:00pm EST
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>> i am sure this decision will not haunt you forever. sttart: dagen and connell, it is yours. dagen: what is going on with house republicans? we are live on capitol hill. why the gop cannot get it act together. connell: walmart with quite a recruiting all for today. any returning military veterans who wants a job can have it. why this is just a great business move how much of the $100 million fortune could he lose. access to cash may be imperative these days.
connell: let's start with nicole petallides. good morning. nicole: good morning, dagen and connell. the dow jones industrials down right now. the nasdaq and s&p also lower. the nasdaq is down about .5%. we continue to watch apple. that is one of the names that is a laggard. hewlett-packard, american express, a few of the names coming under the pressure. the debt ceiling remains in focus. it is earning season. let's take a look at facebook. it is up about three quarters of 1%. it certainly has gained over the last half hour. we are getting closer and closer to the launch time. come and see what we are building.
there is speculation that remains. the anticipation remains. dagen: trying to strategize on how to rein in government spending. connell: rich edson with all the details. rich: a very busy legislative day. they are dealing with this handy appropriation bill. republicans are discussing a number of different options. there is a major house republicans of that. their annual retreat takes place on wednesday.
>> when does this budget balance? here is when the budget gets to balance if we adhere to these cuts. rich: republicans trying to figure out their opening position on the debt ceiling. democrats and the white house have already come out with theirs. president obama saying that he is not negotiating it. he says he is willing to talk about deficit reduction, perhaps modest reduction to healthcare spending. as long as it comes with curbing loopholes and tax reductions for wealthier individuals. congress should just do it. back to you. connell: let's bring in dylan glenn. former advisor to george w bush. rich said that republicans have reasons for not having this meeting today.
the president is standing back and think i am not negotiating on this and the republicans are all over the map. >> i do not think that this is a big deal. i do not see that as a big issue. what is coming out of this weekend retreat is far more important. connell: i would like to be a fly on the wall for that. >> also what is important is to remember how we got here. he has run trillion dollar deficits for the past four years of his administration. you have to pass a budget in the united states senate. he will be doing his sort of constitution getting a budget up to the congress. this is a challenge. we have to have a clear look at how we can reduce spending in this country. connell: whenever the limit is
actually reached and it is not raised. then you start to play the political blame game. pay some bills and not others. though the republicans risk taking a lot of the blame for this? >> i think that we all, as americans, should be concerned. there is default on government payments and there is the ball on treasury. connell: who knows how the market reacts. are the odds higher than they have ever been, do you think? >> i do not think so. i hope not. the treasury has extraordinary
means that they are able to take. republicans rightly see this as a leverage point. i know that the president of the united states voted six years ago against raising the debt ceiling. connell: are they to gather on it? speaker boehner, we cut a deal, but he does not have the votes to do it. are there more together than we think? >> they tend to bring the caucus around a central focus. obviously, the debt ceiling is important. you will see some real coalition around the boehner real. you know, hopefully that is something that is sealable and
relevant to the white house. it used to be pay-as-you-go. connell: times have changed. dylan glenn, thanks a lot. dagen: is lawmakers screw up or interest rates going up? peter hayes oversees more than $100 billion in assets. good of you to be here. they mess up on raising the debt ceiling, do you think interest rates will shoot up or what can we expect in terms of that market? >> expect volatility. the bottom line is you will see volatility. the longer we go and connell talked about some of the issues in washington, how you get there, missing payments and so forth. it will get messy. they seem to react only when their backs are against the wall. the longer they go, the higher probability the u.s. misses its
triple rating. oddly enough, prices rose and rates fell. that will be the real teaser. dagen: that is the upside down crazy world that we live in. you miss behave and we have longer-term interest rates. how long can that continue? >> slightly lower, down at 180. people think it will be bad for the economy. risk assets and things like equities did to get sold. the quality still is the u.s. treasury, the u.s. government. rates fall. that is one side of it. the big question is, where is elsewhere? that will be the big question. i think just a matter of time if we do get to this point,
deficits are so large, at some point you'll have to pay the price at higher borrowing costs. at some point, that will be the ultimate outcome. dagen: for does that mean? you manage municipal bonds if the democrats have their way in raising taxes even more, that is good for muni bonds? >> the day after the election, we had a tremendous rally. the perception was taxes may go off. we have to deal right new year's eve. i talked to more people of the last few days who opened that first paycheck and their reaction was, boy, that tax fight was pretty big. that is the fact in front of us. i think it is likely that president obama will, as he has in the past, copy the value of
deductions. i think it will be difficult to ultimately get the tax reform in the u.s. the market is paying attention to that. it does affect the value of bonds. dagen: muni bonds had an incredible run last year. of almost 12%. how overvalued, though, are these bonds at this point? are there any areas of that market that looks reasonably priced? >> not dangerous. high-yield has certainly had a very good run here with some returns. you have to think about resetting your expectations. why do you want to invest in muni bonds pressure mark you want to keep more of what you earn. they are limiting the value of deductions. that is another way, that will
not impact municipal bonds, but it is another positive factor. forget about those returns we saw the last couple of years. you will not see that unless we get a dramatic fall in rates. it is really about how you maximize your income. you still find some nice income opportunities. take advantage of the opportunity to invest some of that cash. dagen: good to see you, peter. as always, we covered a lot of ground. peter hayes. connell: this walmart story we love today. dagen: 100,000 jobs. connell: elizabeth macdonald will be coming up. dagen: lance armstrong opening
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range. it certainly has had that back-and-forth action. here it is now, 487. it is dipping to the lows of the day. anything over $500 is a buying opportunity. some analysts cutting it. i wanted to take a look here at ling in. 116 again active users. of 20% in two months. this is according to the latest figures that are available. there is linkedin. a gain of nearly .5%. this is earning season.
we have the empire manufacturing number that is not so great. back to you. connell: time to make some money with charles payne. dell turned into a huge storage yesterday. dagen: shares up again yesterday. looking to go private. charles: it has been written up that tpg and silverlake may team up. the biggest i think was 2005. i do not think money will be an issue. i think there is a lot of credibility. you know, he is not the kind of guy, he is not a greed driven god. he could have easily pocketed a
billion dollars. by the same token, you guys remember when he had that big tax fight with alston because there had never been a house that big in austin. i do not think it was funny. i think michael dell probably wants to find a way to retool this company. dagen: that is the central question. what can you do as a private company as a public company. >> that would be a typical bill. the thing is, you know, could you afford the bump in the road that comes -- listen, we have to take a pit stop. we have to pull this bad boy over. when it comes to the stock
market, the stock can go down. [talking over each other] charles: i am not sure right now. dagen: that is a dog that will not hunt. charles: if you want to play, understand it is mostly a speculation play. dagen: he is my friend. you, not so much. arkansas, virginia, you know, it is just one big state that the washington, d.c. walmart employs about 1,000,000.5 workers in this country. it already employs 100,000 veterans. it is now reaching out to those
returning and leaving the military and saying, if you want to work here, we have a job for you. connell: we are also following facebook all day long. stock up 2%. mystery announcement from facebook. something is coming in less than two hours. world currencies on markets now. let's see how the world is faring against the dollar. ♪ [ indistinct shouting ] ♪ [ indistinct shouting ]
♪ connell: walmart is putting out a help wanted signs and doing so in a very big way for military veterans. dagen: there is a job for you. elizabeth macdonald is here with more. >> the president of walmart william simon gave a keynote speech at the national retail federation earlier this morning. he served in the navy. he came out of the navy and now
he is putting out help wanted signs in a big way. hiring over 100,000 military veterans over the next five years. >> it could be one of the best decisions any of us could ever make. performance under pressure, quick learners and team players. >> here is michelle obama on the announcement. very positively to walmart move. no one thinks they should have to fight for a job once they return home. no guarantees that the that will get a job, but they are saying, hey, we want you military veterans. there is other news as well, $50 billion in u.s. products is what walmart plans to purchase for its store shelves. urban legend gets a lot of its products overseas, two thirds of its products come from u.s. manufacturers. that is said to increase because
asia labor costs are going up and shipping costs are going up as well. dagen: walmart has a history of hiring veterans. this is not anything new. it is illustrated in the executive comments. >> the world's biggest retailer. the workforce about the size of the u.s. military. he wants military veterans. this will be a great pr because of the negative reactions and union protests around the country. it is an interesting pr move. he wants them, he thinks they are great workers. connell: today it is all positive. thank you, liz. dagen: already the largest private employer. despite being non-union. connell: lance armstrong denied doping allegations for 13 years, but finally told the truth about
volt? we have jeff flock to talk about that. we have a mystery announcement from facebook. will it live up to all the hype today. speculation that the company may be unveiling a search engine or a smartphone or something. the stock has been driven higher ahead of it. dagen: it is 31 past the hour. nicole petallides is that the new york stock exchange. nicole: we want to take a look at a couple of our retailers. let's start out with the gap. it is up 3.3%. numbers rose more than expected in december. americans hit the stores. retail sales numbers came in at an increase of a half of 1%. a revised 4% from november. visit the big picture of what we are saying for these retailers. they have had stellar
performance over the last 52 weeks. banana republic is up 72%. nobody really thought about that. i wanted to take a look at another very popular retailer. express. up 21% today for express. one of the reasons is some good guidance. with some good guidance therefore express, that makes that stock soar. a serious retailer on the move. of almost 20%. back to you. dagen: thank you. connell: look at general motors with this new battery-powered cadillac. jeff flock is that day two of the auto show in detroit with a chevy volt. jeff: there it is. take a look at it. you may remember the converge. it was the concept car. i have bob ferguson here.
the newly minted head. pretty excited about this one. >> this is a pivotal point for cadillac. this is going to be a big winner for us. we are very excited. jeff: is this bigger than telecom? >> cars are more sexy. i enjoy my time in telecom. we make something here and it combines art and technology and engineering. it is a lot of fun. jeff: tell me about this car. it well outsold the nissan. what is your vision with this car? what is the market? how soon will it be at the market? and how much will it cost me? >> this car will be out in january of next year. this car test really well.
in areas where cadillac has baby not been so strong. it tests very well in the coast and the northeast. there is a market for a luxury car. very comfortable. it also has the added effect of being good for the environment. jeff: this not only has the electric propulsion system, but it has a generator onboard. >> you get to a certain point, the generator will kick in and recharge the battery. you can go for hundreds of miles. jeff: you see all of these folks interested. the concept is electric cadillac. it is pretty exciting to a lot of people. >> there is nobody in the luxury space that can do this right now. we will only make so many for so long. it will be on market in january. jeff: nice. bob ferguson.
spent a lot of time in washington. you did a pretty good job. everyone seems to be happy. >> it was tough going for a while, but things are good now. jeff: congratulations on the car. always good to be excited about a new product. this has gm headed in the right direction. next our, pw. dagen: you'll be at the detroit auto show. thank you so much. lance armstrong opening up about doping to oprah. we have reports that the justice department is likely to join a whistleblower lawsuit filed by former teammate against armstrong. then, of course, there is the
money headache. liz will joins us now. where do you start? it appears as if his attorneys and armstrong are already talking to justice about beginning to pay back the u.s. postal service. >> i think this has been at work for a long time. first of all, he could be charged with perjury. what the lawyers did do, i am sure, is take that off the table. if he goes forward and he is willing to talk about other dopers or sponsors, not sponsors, but other people that pushed him. dagen: other people who were involved. >> give them up. dagen: a criminal case against him that was dropped earlier this year. >> exactly. until you are acquitted of something, those charges can always be brought.
that was the first thing for the lawyers. why after all of these years, dagen, after denying countless times that he did not dope, that he was no part of this, to go forward? he is a 41-year-old man who still wants to have his career. does not want to be going out in disgrace. will it work? i think in a moral sense. good for him. i do not think oprah was convinced. we will see the interview on thursday. to come forward and confess, so to speak. legally, you are exactly right. dagen: what about civil litigation. this is a two-part question. already there was a judgment against the sunday times of london which is also owned by news corporation. they wanted that money back from lance armstrong.
he verbally attacked and said he is at risk now for a lawsuit from them. >> i have to think the lawyers have thought about that. do not forget, dagen, it is always the client who gets to make the ultimate decision. yes, they paid money for defamation which was not true. his teammates who are now coming forward and saying, wait a second. dagen: i will back up, our lawyers part of the problem here? >> lawyers, part of the problem? [talking over each other] dagen: it is a stunning list of attorneys in this country. over the years, he had this legal entourage of people who aggressively went after anyone who accused him, even kind of pointed in his direction in terms of being a doper. >> once he made that first light on the record whether it was to a reporter, part of the
responsibility of a lawyer and i know this sounds horrible is to protect their client in any way they can. in some ways that is pushing the story forward saying, it certainly was not his fault. that is part of what they are paid a lot of money to do, dagen. dagen: thank you for the heartening conversation. he has $110. potentially, is that enough? >> it certainly is a start. [ laughter ] dagen: i am sorry. thank you. i will see you in the morning. connell: baby boomers heading back to college, but not for class. we will tell you why college towns are the place to be. dagen: investing in china's stock market. why the country is making it easier for you to place some bets there. take a look at the treasury
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conoco phillips is selling some of its properties in north dakota and montana. the deal is expected to close in the first quarter. shares of usa compression partners are under pressure. the pricing of the company of 11 million shares at $18 each fell short of the estimated range. they are the first ipo of the year. shares of given imaging are trailing on news that they are taking itself off the market. they are no longer considering a sale or possible merger. they will focus on their current operating plan. that is the latest from the fox business network. giving you the power to prosper. ♪
not so hot for baby boomers. they are heading to college towns. that is right. the activities are endless and the cost of living is cheap. some developers even building retirement communities in facility of this. this according to the aarp. i suggest maybe athens, georgia. it is quite warm down there. beautiful. connell: the bronx, where i went to college, will be nice for old people. mr. effects of that that is supposed to begin in an hour. i think it is still anyone's guess what facebook will reveal. shibani: here is the imitation
that i received. facebook inviting members of the press to come and see what we are building. the event begins in the next hour. there is no analyst. no other financial figures that will be there. the company, the stakes have been high for the company. the shares are almost double in the last three months. a couple of the gases that we think will be revealed, possibilities will be cloud computing, video ads being inserted into the newsfeed, possibly a standalone ipad app , maybe a new wing of the corporate headquarters. what we do not think is no smart phone, no debut of anything
major in terms of financial impact. there is no analyst there and we we are the companies quiet. it will likely be an incremental sort of news unveiling. we will see what actually unfolds in a matter of about an hour and a half speed. we are very excited about this. shibani joshi in the newsroom. dagen: lulu lemon shares taking a huge hit. nicole: not good news for lulu lemon. the ceo saying that the calendar actually compressed the holiday season. giving an outlook that certainly fails to wow wall street. here is a look at lulu lemon right now. it is under pressure. lulu lemon is actually a winner over six months. ubs kept there by rating, but had to lower their price target.
lulu lemon saying that their sales growth, is going to slow. that certainly does not build confidence in the shares. at least not for today. back to you. connell: over to china with the country considering increasing the amount of foreign investors into the stock market. >> long-term goal to have an open and inclusive capital market. they are the itself back in april. they raised it.
they are talking about increasing and other possible nine to ten times. i still see a lot of hurdles and obstacles that they will have to go through in order to accomplish the goal. connell: china is going through this leadership change. the new leader taking over. what is he like? >> the problem with him is that he does want to reform, however, right now, his power is not secured yet. maybe in another observation, observers are saying maybe in another three to five years, he will be able to have total control. at that time, he could do a total financial and also political reform. right now he is trying to push for it. in order to accomplish this,
there is still a lot of problems that they have to go through. connell: you look at the gdp growth in the u.s. versus china. at some point, china just keeps going up. what should we be rooting for. should we be rooting for china to be number one? is it in our best interest? >> that is a fantastic question. are they follow or are they friends? we still cannot figure that out. for the common good it would be good for us to work together. we do want them to be well. do not forget, as a country, they do have the second largest gdp. the wealth is not evenly distributed. they are ranked number 93 in the
world. that country still needs a lot of financial and economic reform in order for it to stabilize and compete with us as a super economic power in the world. they still have a long way to go. connell: maybe this is a sign that things are moving slowly in the right direction. thanks a lot, as always. >> great, thank you. dagen: think your password is clever enough? think again. 90% of passwords will be vulnerable to hacking. connell: 90%? wow. some of the winners on the nasdaq today. i do not know how that is related, but i cannot think of anything interesting to say. i wonder what facebook will say. we will see. we will be right back on markets now. ♪
connell: you probably think your computer password that you use is strong enough. it turns out, it may not be. deloitte claiming nearly 90% of all that user generated passwords are vulnerable to hackers. we could save billions of dollars in losses from parking this year. dagen: your password is password. connell: it is not safe after all, i guess. dagen: dow about the future keeping apple shares in the red. connell: let's go to sandra smith. sandra: everyone has been
asking, what will apple do next? first time we have seen this since the first half of 2012. now there are questions of how far it will go from here. apple is near its lows of the session. found another $16. this is the big story. look at the three month chart. it has lost a quarter of its value. here is what analysts are saying. the average recommendation still, even with this duck line, is a vibrating from analysts. the average price target is still there. stuart jeffery is one of the analysts. we have cut our estimates this year by 5%. next year by 5%.
that being said, they believe apple could fall as low as $400 a share. many of the analysts still bullish. some are coming out saying it has further to fall. connell: thank you. we are a little more than an hour away from facebook's mystery announcement. dagen: will it be a facebook smart phone, search engine, something else? our expectations too high? what will happen to the stock? stay with us to find out. ♪ you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choo any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ ale announcer ] just like you, business pro. just like you. go naonal. go like a pro.
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retailers than many economists believed. sales way up in december. stocks that you can cash in. we'll have that for you coming up. dennis: gun stores running out of bullets. what are they saying on the shooting range? going to one live as president obama is about to release the plan to reign in gun violence. first, top of the hour. stocks every 15 minutes. nicole another the new york stock exchange. nikki? >> we are keeping a close eye on the markets selling off to the downside. the debt ceiling remains in focus, and arguably, more important now at this point than the fiscal cliff; right? that's something to keep in mind, no doubt, not just here, but across the globe. the dow down about 14 points, one-tenth of 1% selling off there. keeping an eye on the retailers, numbers of the holidays up half of 11%. you noted facebook, front and center, apple below 500, but look at research in motion. the blackberry maker. january 30th, the day we are
waiting for the blackberry 10. we talked about this for easily six months, but now we are hearing about developers and apps being submitted as record pace over at research in motion, carriers signing up on board. research in motion had a nice run over the last month or so. a look today, selling off 4%, and as i noted, there's a nice chart, november, december into 2013, there's a run up. back to you. dennis: hope at rim. thank you, nicole. cheryl: call it deja vu. president obama again attacks wealthy investors. >> they don't think it's fair, for example, to ask a senior to pay more for his or her health care or a scientist to shut down life saving research so that a multimillionaire investor can pay less in tax rates than a secretary. cheryl: the president's latest jab leading many to worry another tax fight on capital
gains and dividends could be on the way. financial managing principle joining me now. again, this them against the secretary debate into play again, joe. they made the best moves in december ahead the fiscal cliff, and now this rhetoric yesterday. what do you advise them to do? >> well, it's a classic example that raises the question when is washington going to get out of the way of the capital markets and american enterprise in general, but specifically on this point, it's hard to say, it almost struck me yesterday it was an ad lib point in the speech and may be just throwing that out there as a bar beginning chip with the republican congress. it's hard to say. cheryl: joe, he's not bargaining. the president yesterday is doing anything but bargaining coming out saying this is basically how it's going to go, paraphrasing, obviously, but that's how many took the comments, the tone, and
the argument. ask those at fitch this morning. 15%, 20%, the lumps were taken, and now this once again. you saw the market volatility in december as we got to the fiscal cliff negotiations. are we headed there again because of this? >> well, ting -- i think it's going to be a bumpy ride, and when i suggested a negotiation chip, it's not in the debt ceiling. whatever happens there in the next round of tax reform, cost cutting, all of these items that are going to be before us, once we get past this debt ceiling issue so my recommendation with investors is that at this point in time, it's premature to react to those comments, even though they may be troubling to all of us. let's see how it unfolds before you begin making any investment moves based on a potential tax hike. cheryl: well, yeah. talking about more tax revenue coming in, i'm sorry, but ears perk up. let's talk about the specific
company that you like on your radar, and there's a couple reasons. first and foremost, they doubled the dividend on monday. the company doing well financially, at the same time, dividend payers like a ford, joe, could, again, fall out of investor payer. do you stick by ford if the tax fight continues? >> yes, because beyond the dividend, it's an attractive stock. auto industry as a whole, we think, has still tremendous upside potential since it bottomed out in 2009, it continues to improve. ford, specifically, streamlined down to lincoln and ford models. they have a ways to go yet, but they are really looking to compete head on in the united states with toyota, with the fuel efficient products like fugs, fiesta, taurus, ect.. cheryl: that's right.
3 #% yield hit again on ford. the stock is climbs and climbing back to the debt ceiling debate, in 2012 # coming into 2013 were concerns about consumer spending. government numbers out, retail sales better. does that give you hope? is that why you are bullish at this point for 2013? >> yes. i mean our economy plods along and improves looking at real estate, consumer spending, major purchases such as auto. once again, i make the statement that once washington gets out of the way, we really think that the financial markets based upon where our economy is at this point opposed for a very positive run up, bumpy all be it, that it will be. cheryl: all right. s&p target, 1600 to 1700 this year. the " b" as in bull with you. thank you. good to see you. >> thank you, cheryl.
dennis: facebook shares up over 1% today, $31 and change. an hour before a mystery announcement on a product. speculation there may be a smart phone or a search engine or something else. joining us now, stern aggie senior research analyst, thank you for being with us. what's your bet? >> my pleasure. my bet is it's going to be -- yeah, i think it's going to be a search engine type product. a facebook phone has been talked about in the media, possible there's an operating system that facebook, you know, has developed, but my bet is that search is priority for them, and mark zuckerberg said so and willing to talk about something on those lines. they have a billion queries a day, and think about how relevant the search could be starting on facebook and combine results from your social network
with results from the wider web. they could crawl the web, combine that with what your friends say, and make it a much more relevant search on any topic you want. that, to me, would generate more engagement. dennis: in some ways, facebook could be the biggest threat to google because why search on the web, millions of websites, when i could search among 300 friends i trust for recommendations. if they go into search today, aren't they making google enemy number one, and isn't search not facebook's core competency or what they are about? >> it's not, but i think they eventually have to get into that business, whether it's today's announcement or, you know, maybe later. i think it's -- for them, it's not just a traditional search. search is shifting. i mean, people want more what -- the way facebook goes about doing it is different than google. it might be additive.
it might be, you know, in some ways complementary, but they have to take on google one way or the other. dennis: google has 90% of all search in the mobile space, and you have to think facebook is targeting, especially since ever more facebook users get to the site through their iphones and ipads, but if google has 90% of mobile search now, what percentage do you think google will have a year from now if facebook moves big into search? >> well, again, i think i'm going to refrain from speck lating market shares this early on not knowing whether we are even going to hear an announcement on search today, but if i was going to say that, you know, somebody with 90% share has generally only one way to do, and so i think from facebook's stand point, the billion users they attract on a monthly basis worldwide and growing, provides them a very strong platform to get into search and, again, improve
engagement on the plat rm, ultimately leading to better advertising dollars so, to me, it's a natural extension of what they already do. dennis: okay. we'll see. we'll watch. thank you for being with us, stern aggies. >> thank you. cheryl: vice president biden's gun control task force report goes to president obama right now. dennis: adam is live in a shooting range in lakewood, new jersey speaking with gun owners and sellers. adam? >> and, you know, the right of the people to keep and bear arms is not only the second amendment, but it's a way of life for firearm enthusiast who are concerned that the intent of the second amendment of the constitution is well something they enjoy and a way of life is threatened by what may come out of washington. joining me to discuss this is jerry, and he's in the only a supporter of the second amendment, but a firearm enthusiast. what is it that concerns you most about the possibilities of what we'll get from vice president biden and president
obama? >> well, there's no doubt that the second amendment has been under attack since before obama even got into office, and i think a lot of us shared that concern several years ago, and it was reenforced when he said to the reference of remember these people stick to their guns and their religion, and when he made that statement, i think that was really a wakeup call for a lot of people. >> we have behind you semiautomatic rifles, and there are people who stricter gun regulation in the united states. why do you need a semiautomatic rifle if you're a firearm supporter. how would you react to them? >> semiautomatic rifles, for example, the ar-15, is really part of our culture. anybody that grew up, did military service in the 70s, was trained on an m-16, and it's kind of consistent with what we do with appreciating using similar-type weapons that we were trained on in the military, but this is a civilian legal
version of the same thing. >> quickly, supporters of the second amendment believe in their need and right to protect the citizenry against aty rankle government, is that accurate? >> it is. a lot of that is lost in translation where people don't realize that the second amendment, one of the provisions of the second amendment is to protect ourselves from a government that could be a tyrannical government. >> thank you for joining us very much on fox business. now, you see some of the assault -- excuse me, the semiautomatic rifles behind me, and the prices of the firearms shot up dramatically. you could usually get one from a hundred to over a thousand dollars, and one behind me selling for $2400. you can see this debate has a lot of people worried and driving up prices, not only of that, but people purchasing am mew anything. we'll talk about that at one o'clock. back to you. cheryl: see you, of course, then for the next hit on "markets now." thanks, adam. >> you got it.
dennis: apple down $486, down 15 bucks of a psychological level, more than 3% decline. live with more on that. cheryl: the london whale saga continuing to hurt that company including a piece of jamie dimon's bonus. what that means for jpmorgan's earnings due out tomorrow. dennis: lance armstrong admitting doping and lying about it for years. how much of the $125 million forchip could he lose by coming clean? cheryl: as we go to break, take a look. we do this every day at this time of the day. oil at $93.78 right now. we will be right back. ♪ [ indistinct shouting ]
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smith at the data wizard with a retail turn around, and charles payne. first at nicole. >> wanted to look here, a close look at apple. it certainly is the stock that we followed closely, and a stock today that's gaping a lot of attention -- gaining a lot of attention, clearly, number one, under $500 again like it was yesterday, and today hitting lows we have not seen since early 2012. here it is at $486.85, traded as low as $483 and change, not good news for the shareholders when they hoped for it to go higher. yesterday, we talked about the fact they talked with the suppliers and cutting down orders for screens and components because the demand for iphone 5 was nos -- not as good as they hoped. amora cut from 530, but others say the hits are buying opportunities. what are you for? 487.41.
phil, what's going on in chicago? >> tell you what, platinum shortages intensifying as platinum traded above gold in the first time in ten months. what set it off? anglo-american shutting down platinum mines, knocking out 400 tons of production offline. that's all the market needed to here. platinum, one of the best performing metals of recent memory has been concerned because of we're not going to have enough. we cut into that a lot more. now, add to that precious metals and ben bernanke and prints presses, we know sandra smith loves the printing presses, back to you. >> we're looking at a rebound in retail sales, and sales coming out from the national retail federation better than expected. remember, this was this huge drop during the recession that we saw in retail sales. the blur line is autos, and the yellow is everything including gasoline and automobiles 6789 as you can see, rebounded, but flat
lined. we saw overall a year over year jump in december of 4.7%, month to month, november to december, numbers better than expected, and people were out shopping. the winners and losers going to the next full screen, guys, looking at what won in the month of december, car sales, automobiles in general, strong. those numbers up nearly 2% for the month. health care and personal products, sort of a sign people were out there buying what they need, buying for themselves, not always a great indicator for the overall economy. that number up 1.4%, and, also, furniture sales were up. this really struggled in the recession. they were up 1.4%, and real quick, guys, losers,? gasoline. people are traveling less. electronics, hello, apple. down six tenths of 1% for the month. a look, cheryl and dennis, lowe's, target, macies in the careen today, but the arrow in the red after weak electronic
sales with best buy taking a 3% hit. back to you. cheryl: sandra, phil, nicole, thank you, guys, appreciate it. time to make money with charles payne this hour. a company on fire doing well, but do you like it and learning sometimes you're like, so? >> up 30% since i gave it to you december 13th on the show. we ring the register making 30% in a month. we ring the register. this is a grand slam stock. 30%, who makes 30% in the last 30 # days on anything? dennis: sell or hold on to it? >> sent out an alert, take profits here. i still love the company long term, but the nature of the market itself, getting about the company and individual companies is when you get 30% in a month, take it off the table. however, i'll be back in there on a dip. i'm not sure how or when the big the dip will be. dennis: receivers the energy business rather than owning deposits, but if oil goes down
rather than up, does that hurt the customers? >> it doesn't. every company knows there's few places to save money these days as a company. talking about productivity, you know, listen, technology is fantastic, but everyone's got all the different software out there, and this is one area that the company, on the website, they have a running meter right now. they've saved customers $545 million and keeps ticking. today, there was a new contract from the burlington vermont school system, eight schools. it could be small contracts like this or larger contracts. bottom line, an area to save money is utilities, particularly, the epa, news from the epa sent the stock significantly higher today, epa has a lot of rules on energy, energy uses, and things like this, only helping the company. cheryl: love this. >> 30% a month, ring the register. anybody who bought the stock here, sell it. cheryl: we'll hear it. i like sees this side of you.
>> i'm pumped, thanks. cheryl: just ahead, talking dark pools as regulators want to shine a new light on hidden trading platforms, got the low down from the ceo of the one of the largest ones. cheryl: tis the season, ti srk -- tis earning season. several banks set to release fourth quarter earnings. previewing the reports with two sharks to see if you should buy, sell, or hold the financials. dennis: first, how the world currencies fare against the dollars. dollar up, that's what the arrows mean. ♪ [ male announcer ] ahh... retirement. sit back, relax, pull out the paper and...what!!?? an article that says a typical family pays $155,000 in "wall street" fees on their 401(k)s? serisly? seriously.
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♪ dennis: shedding light on dark pools. the financial industry regulatory authority planning to probe the hidden trading ewe venues and shedding light on 50 some odd dark pools and computer trading. do they have the standards to carry them out? the transparency calls? we have liquid net holdings, one of the largest dark pools. seth, you have 700 asset managers around the world, trade for them in 41 markets, and every time you traded shares, it's like 40 # ,000 shares or more. what's the problem that fenner worries about here, and who is
hurt by if? >> well, they are worried about manipulation, and they are worried about traders and others buying in the markets in the exchanges and trading the dark pools, really about manipulation. they want to understand what's going on in dark pools. dennis: is that going on? doesn't it amount to a penny of impact on me, an individual investor in the market? >> pennys add up. it's more than that. what we are talking about, you know, when it comes to institutions that have to buy millions of shares, you're talking a big impact. that's typical on wall street where few make a lot of money at the expense of any money. backing up, not all dark pools are created equal, our liquid net trades to institutional traders, and they have the size of 250 times that found object other dark pools. they provide 100% price improvement on trades which is value added. that's not, you know, the big
issue is those 50 different dark pools that don't provide value adding above and beyond what's beyond the exchange. dennis: if only it was a less sinister name, and does your dark pool outright ban high frequency traders from doing things on your exchange? >> absolutely. we are high frequency trading free. dennis: good. okay. one last thing. the whole essence of the business is to keep stuff private. isn't your business hurt when regulars want new transparency, shining on a light that was private? >> we need investor confidence in the market. anything that the regulators can do to instill and maintain investor confidence, we are way for; right? they have to understand what's going op. if there's manipulation, they need to get rid of it. dennis: benter for your business. good luck. cheryl? cheryl: guys, thank you.
the london wales saga hitting jamie dimon after the trading loss, and yet the stock up 7.5% over the last month. right now, up four cents. an analyst who upgrade the jpmorgan today, and another is not a fan. on the s&p, e-trade and gap and more. we'll be right back. ♪ [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more.
ahead, will it sink earnings? lance armstrong back pee dark -- -- pedals and admits lying. how much will it hurt him? cheryl: nicole on the floor of the new york stock exchange, and dow down five, there's so many great stocks today. >> including facebook, cheryl, right on the money. it's a nail biter now; right? down to the wire, another half hour, and it will finally be revealed. what is the company building if their words, they said "come and see what we are building." this is a media event invitation taint -- sent out last week. the stock soaring up 60%. today up nearly 1% and has crossed over the unchanged line. there's some people who think facebook has run up too far too fast, but what will they reveal? will it be new app? a new phone?
new search engine? mobile ad revenue? a new building? these are all ideas weave been reading -- we've been reading about and hearing, but we'll know for a fact wildfire the next hour. it's a half hour at the top of the hour. back to you. cheryl: nicole, thank you very much. facebook, 31.18 on your screen. the head of jpmorgan could see pay slashed by 30% this year. fallout from the london loss the bank took eight months ago. dimon raked it in, but still, with the cut, could be taking home $16 million this year. jpmorgan up 30% in the past six months, climbing ahead of tomorrow's earnings. tom from ag and matt mccormick on whether to buy, sell, or hold. it's a basic question. matt, starting with you. you are worried about, i think, the noise is what you said about jp morgan. go into detail, matt. >> cheryl, i'm concerned about
the london wale issues and the continued fallout. jp dodged a bullet with the fed slapping hands and not charging any fines, but to my knowledge, there's seive other legal and regulatory agencies still investigating the london trade, and there could be a fallout and maybe more fines and i just think that j pmorgan, though, a good company will beat earnings. there's too much noise and concern. other companies have equally strong management that have not moved as much. it was up over 36% last year, 35% year to date. there's other safer banks and be more selective than buying a company that you know regulatory issues will be coming out. cheryl: getting to the sector in a second, but taiment, todd, you're not concerned about the regulatory issues, even with the news from the fcc yesterday. you upgraded the stock a couple weeks ago? >> absolutely right. that was one of the primary concerns in the back half of 2012 was the ongoing regulatory
overhang, if you will, but as we near the end of the year, they resubmitted the plan to the regulators, got the approval, in terms of the share buy back, and we felt more comfortable going into a year where we -- in our opinion, the leading economic indicators are actually holding up a little bit better than expected, and you're talking about a company that is effectively number one in most of the major business lines taking market shares, and it's just not that expensive. we think a lot of these overhang is now behind them, and it's now about growing shares and, you know, in an environment a little bit better than we expected a few months ago. cheryl: all right. just behind the upgrade, but at the same time, matt, you're saying that you think the government's going to continue to take what you say, you know, one to two pounds of flesh out of jpmorgan, we still have a dodd-frank, still dealing with that this year, and basal three delayed a year, but still in the pipe. what do you say?
>> sure. it's a great company, gaining share. we have concerns about the regulatory issues as well as the political issues that we think will have a deep impact on all financial stocks, but, particularly, the money centered banks that have no friends in washington, that will always be in the cross hairs of regulatory people. when you look at dodd-frank, just a third of the rules implemented, and not one going forward is towards banks in terms of revenues. when you look at the trade going forward, money centers have a good earnings relesion. jpmorgan will probably beat, but it's something, time to take profits and look at conservative banks, better run, and don't have the regulatory issues. the regulatory issues are real and will continue to increase, and the government is not going to stop hitting banks in terms of -- as i said, and as you agreed to, a pound or two or three of flesh going forward. cheryl: right. todd, overall, the sector is ganging this year, and financials the way to go this year. what do you say? >> absolutely. we like the brokers. we love citi group, like
jpmorgan, wells fargo. take advantage of the weakness in the market, buy more. the stocks are not that expense of. -- expensive. they are gaining share. well-positioned, getting regulatory overhang behind them, the settlement early in the week, all positive for the industry overall. cheryl: all right, todd and matt, it's about the financials. thank you for weighing in, appreciate it. >> take care. cheryl: all right. dennis: wv -- vw driving past america's three. jeff flock is at the auto show. cheryl: looking at the treasury, down two basis points. we'll be right back. ♪
♪ tracy: i'm tracy burns with the fox business brief. ratings firms is warning a delay in raising the federal debt ceiling could cause the u.s. to lose its aaa credit rating. the debate creates a, quote, potentially dangerous mechanism for end forcing fiscal discipline. with the detroit auto show underway, ford's ceo says there's a big demand out there for new cars and trucks. >> the average age of vehicle is over 11 years old as you know, there's a lot of room to replace those older vehicle, and, today, with the improvement of fuel
dennis: vw looks to give u.s. automakers a run for their money. jeff flock is live at the detroit auto show, jeff? >> dennis, they are quaking in their boots at ford. we heard from liz's interview with allen whoftion here yesterday looking at this cross blue, the entry into the segment. ford explorer, a huge vehicle, look out. allen said we got a real competitor here. that was good news for you to hear. >> yeah, we were really excited by the reaction, not just from allen, but all the press, all
the dealers, all the customers here, and, really, excited about the initial reaction. >> now, there's a lot of competition in the space, not just suv, the big suvs, which this is a good sized suv, and earlier today, the nissan resonance was introduced also, a crossover suv. there's just a lot of competition out there. what makes you think vw can win? >> this is a mid-sized suv. we don't have a vehicle that fits into this category at the moment, but the vw brand reaches into this because we offer that combination of safety, practicality, quality, all wapped up in german engineering, and the engineering interest in this vehicle with the diesel hybrid, the functionalities is very strong. >> look inside the car now, and if she comes armed, look in the backseat, there's spaces for ipads in there, and i don't know if you can come around without killing yourself, but vw is already doing well in this
market. maybe europe is not a great place to be right now, but the u.s. is. take a look at the numbers of the you had a record sales year for your vw group last year; right? >> 35% up, led the industry in terms of magnitude of growth, but, jeff, that was not just one year, but three consecutive years of double digit growth, well ahead of the industry, and that means over that three year span since 2009, we doubled the size of our business here in the u.s.. >> i was going to say, and, you know, the vision is not to put too fine a point on it, but the vision is world dominance. you want to be the number one auto maker in the world, don't you? >> on a global basis, the leading automaker, and here in the u.s., we put in a growth strategy that $4 billion of investment so far. we managed another $5 billion through 2015. we put the foundations in place. >> investment presupposes the u.s. economy is on good footing. any messages for washington as we approach another debt ceiling increase potentially, dan
akerson of gm said don't screw up the economy holding it hose -- hose hostage, do you share that? >> uncertainty has to be removed as quickly as possible. it is not a good environment for consumer confidence to be built, so we're looking for resolution on debt ceiling, resolution on spending plans so that consumers can focus on really going about their business in a normal way. >> wants to build cars, not make policy. there you go. it's a good one. i owned ford explorers for 20 straight years. this is a real competitor to that vehicle. dennis: jeff flock, good job. thanks, den. cheryl: time for the west coast minute, a double digit return for the public employees pension
system. it had a 2% return back in 2012. the nation's largest pension has investments worth $252 billion, almost back to its peak level of 2007 when the fund held $260 billion in assets. the fund's performance was just below its tracking benchmark. arizona governor, january brewer, -- jan brewer, made a push for medicaid extending health care coverage to tens of thousands. her plan seeks $7.9 billion in federal funds over three years to cover 250,000 more state residents. the city of angels saying a record 41.4 million tourists in 2012, foreign visitors the big reason for the uptick there. los angeles tourism 1 a $16.4 billion industry that supports 372,000 job, and nothing says l.a. like the university veer sal studios tour, which, by the way, openedded, den sis, a new
transformers attraction in may, a big draw, making big money. i think you want to go. he's ready. dennis: one thing, to about the retirement, the funds up so much, i think the s&p 500 returned over 13% in the year 2012. cheryl: it missed a benchmark by 1%. dennis: all of that effort, and you know what? the s&p 500, you might have done just as well. cheryl: fire the guys there, just let them go. probably making money advising that pension fund. dennis: we're late, nicole, every 15 minutes, between hope and fear? >> take a look here at dell, and then we'll look at the markets as well. starting off here with dell, which is gaining once again, up about 3% today, tacking on to yesterday's gain for this week, the two trading days up over 16% yesterday. we had the news, right, and how the stock was halted as it was
soaring as there's been talk. "wall street journal" now reporting that tpg and silver lake may be teaming up with other investors, pension funds in order to have a buyout offer putting into place, and so we've seen the stock of dell jumping big time in the two trading days. we'll continue to follow it as the story develops. we're taking a look here at the broader market averages. did you see it? the dow was positive at 12:34. it was in positive territory. believe it or not, i was looking to see how many days in a row if the dow finishes higher, the fifth trading day in a row with an up arrow for the dow. right now, back in negative territory down one and a half points. back to you. dennis: thank you, nicole. apple is down so much today. in an interview spanning two and a half hours, oprah winfrey coaxed a confession from lance armstrong. the tapes tell all will air thursday on oprah's own network
seven time tour de france winner admitted to doping and apologized to the livestrong charity. u.s. anti-doping agency banned arm jpmorgan strong from racing for life, and sources say the justice department likely to join a lawsuit filed by armstrong against former teammates, and here's the thing, cheryl, now that's he's confessed, and that's all he can do for redemption, i think the rest of the media is a mess. we wanted that interview. we will not forgive him fully. that's beyond oprah. he has to cry in front of media outlets. that's my prediction. cheryl: he is going to face so many more lawsuits, and remember him going out and going after anyone over the last decade ever accused him ever of doping, and he was -- he was collecting money, and that's about to go back to the courts and the lawyers, his and everybody
♪ dennis: cyber attacks against u.s. banks on the rise, and is the malware used to reek havoc gettings smarter, banks turn to the top security agencies for help. cheryl: who's behind attacks and what are lawmakers doing to eliminate the threat? chief news correspondent joining us now from washington. katherine? >> well, dennis and cheryl, good afternoon. within days of the 9/11 attack in benghazi, an anti-u.s. demonstrations in the middle east, a series of cyber attacks launched against u.s. major banks, and head of the house intelligence committee briefed on the scale and intensity of the attacks says all of the data points towards iran. >> if you look at their pattern of behavior, we knew that iran had been interested in targets. we knew it has a nation state footprint. i mean, only a nation state has this type of capability, this size. i think people can draw own conclusions, but i would not, clearly, would not rule that out. >> analysts say virtually every
u.s. bank targeted with a denial of service attack. previously, unknown group identifying itself as the cyber fighters, suspected in the attacks with backing from tie ron -- tie ran. here's a chain of events. in mid-august, there was a major attack on the saudi arabia oil company, ramco, the largest producer of crude oil, with 30,000 computers effected, and leon panetta suggested there was evidence of a brewing cyber war. >> the timing is very definite. it was post-9/11. it was to make a statement. it was to inflict dysfunction if you will on the banking industry of the big heathen west, the united states. >> and within days of the attack in the assault of benghazi, another event targeting u.s. banks, the timing though, we're told is seen as op tun nighs tick, and the moment to send a
message to the west, and more concerns the attacks could be the prelude to something disruptive or destructive. >> it showed that they, a, had a growing capability, and, b, many believe that it was more of a probing exercise. in other words, trying to find vulnerabilities against the agent itself being the final conclusion of what their offensive capability or target might be. >> fox news is told that homeland security as well as the nsa are involved, and just to underscore an important point, last year the cyber legislation stalled in the senate and nothing was passed on the hill. dennis, cheryl? cheryl: thank you. >> you're welcome. dennis: disney with a roll out, long winning in the video game business. toy box unvailed today as disney infinity. you mix and match disney characters, and the first are from "monsters," "pirates of the
caribbean," and "the incredibles." meanwhile, a writer at the site resigns after cbs forced them to remove dish network's ad accident happenner from the list d zapper, and now they have a black eye. maybe should have left c-net alone. for fans of the man cave, microsoft has a new prototype that turns your living room into a giant screen. one of the last great breakthroughs in microsoft labs never make it to the market as products. it is almost time for the big reveal. facebook's press event kicking off minutes from now. cheryl: melissa and lori coming up with up to the minute coverage. stay with us. you're watching "markets now" on fox business.
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